Financial Markets Conduct (Restricted Schemes) Order 2016

  • revoked
  • Financial Markets Conduct (Restricted Schemes) Order 2016: revoked, on 2 September 2016, by clause 5 of the Financial Markets Conduct (Designation of Restricted Schemes) Order 2016 (LI 2016/199).

Reprint as at 2 September 2016

Coat of Arms of New Zealand

Financial Markets Conduct (Restricted Schemes) Order 2016

(LI 2016/119)

Financial Markets Conduct (Restricted Schemes) Order 2016: revoked, on 2 September 2016, by clause 5 of the Financial Markets Conduct (Designation of Restricted Schemes) Order 2016 (LI 2016/199).

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 30th day of May 2016

Present:
His Excellency the Governor-General in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This order is administered by the Ministry of Business, Innovation, and Employment.

This order is made under clause 23(2) of Schedule 4 of the Financial Markets Conduct Act 2013 on the advice and with the consent of the Executive Council and on the advice of the Minister of Commerce and Consumer Affairs given in accordance with a recommendation of the Financial Markets Authority.

Order

1 Title

This order is the Financial Markets Conduct (Restricted Schemes) Order 2016.

2 Commencement

This order comes into force on 3 June 2016.

3 Application

This order applies to a managed investment scheme on and from the date on which it is treated as being registered under clause 22 of Schedule 4 of the Financial Markets Conduct Act 2013 (the Act).

4 Designation of managed investment schemes as certain types of scheme

(1)

The managed investment schemes listed in the Schedule are designated as the type or types of scheme shown in the Schedule.

(2)

For the purposes of the Schedule, a scheme designated—

(a)

as a legacy scheme in column 3 is designated for the purposes of clause 23(1)(e) of Schedule 4 of the Act:

(b)

as a restricted legacy scheme in column 4 is designated for the purposes of clause 23(1)(d) and (e) of Schedule 4 of the Act:

(c)

as a restricted superannuation scheme in column 5 is designated for the purposes of clause 23(1)(d) of Schedule 4 of the Act:

(d)

as a restricted employer-related scheme in column 6 is designated for the purposes of section 172 of the Act:

(e)

as a workplace savings scheme in column 7 is designated for the purposes of clause 23(1)(f) of Schedule 4 of the Act:

(f)

as a restricted workplace savings scheme in column 8 is designated for the purposes of clause 23(1)(f) and (g) of Schedule 4 of the Act.

(3)

If a scheme is designated in relation to a section of the scheme, the scheme is designated as the type or types of scheme shown in the Schedule in respect of that section (see clause 23(3) of Schedule 4 of the Act).

(4)

In the Schedule, effective date, in relation to a scheme, means the date on which the scheme is treated as being registered under clause 22 of Schedule 4 of the Act.

5 Revocation

The Financial Markets Conduct (Restricted Schemes) Order 2015 (LI 2015/282) is revoked.

Schedule Designation of schemes as certain types of scheme

cl 4

Note: A tick alongside the name of a scheme (or a section of a scheme) means that the scheme (or the scheme in respect of the section) is designated as the type of scheme that appears above the tick.

Column 1
Name of scheme		Column 2 Approved scheme numberColumn 3 Legacy schemeColumn 4 Restricted legacy schemeColumn 5 Restricted superannuation schemeColumn 6 Restricted employer-related schemeColumn 7 Workplace savings schemeColumn 8 Restricted workplace savings scheme
Accident Compensation Corporation Superannuation Scheme831✓✓
Air New Zealand Superannuation Scheme606✓✓
Akzo Nobel Coatings Superannuation Plan2623✓✓
Alsco Superannuation Plan6265✓✓
AMP New Zealand Personal Superannuation Fund9486✓
AMP (New Zealand) Staff Superannuation Plan9200✓✓
AMP (New Zealand) Staff Superannuation Plan (Section 2)7690✓✓
AMP (NMLA) New Zealand Superannuation Scheme7758✓✓
AMP Passive Personal Retirement Plan - International Passive Shares Investment Fund1319✓
AMP Passive Personal Retirement Plan - New Zealand Passive Shares Investment Fund1318✓
AMP Personal Retirement Plan1235✓
AMP Personal Superannuation Scheme1500✓
ANZ National Bank Staff Superannuation Scheme7727✓✓
ANZ National Retirement Scheme2294✓✓
Aon Group Pension Plan3304✓✓
Aon Master Trust6980
—staff section✓
—personal section✓
ASB Superannuation Master Trust1373
—specified member section1✓
—ordinary member section2✓
—trustee member section3✓
Ascot1882✓
Asteron Retirement Plus Personal Superannuation Plan1096✓
Asteron Superplan640✓
Automobile Association (Canterbury) Incorporated Staff Superannuation Plan7143✓✓
Bank of New Zealand Officers’ Provident Association3413✓
Baptist Union Superannuation Scheme3423✓
Beca Group Superannuation Plan3478✓✓
Beca Super Scheme1669✓✓
BIL NZ Group Pension Plan3631✓✓
BOC New Zealand Retirement Plan527✓✓
BP New Zealand Retirement Plan3602✓✓
Carter Holt Harvey Retirement Plan2266✓✓
Colgate-Palmolive Limited Superannuation Plan7375✓✓
Commercial Union General Insurance Staff Pension Scheme4000✓✓
Dairy Industry Superannuation Scheme4126✓✓
Defence Force Superannuation Scheme1331✓
Deloitte Retirement Plan1181✓✓
DIC New Zealand Superannuation Scheme3947✓✓
Douglas Pharmaceuticals Limited Staff Superannuation Scheme9762✓✓
Employee Retirement Plan1423✓✓
Fairfax New Zealand Retirement Fund351✓✓
Fairfax NZ Senior Executive Superannuation Scheme5777✓✓
Fidelity Super-Super Plan, Number 31052✓
Fisher Funds LifeSaver Plan1121
—workplace savings section4✓
—individual investor section5✓
Fletcher Building Retirement Plan8985✓✓
Fonterra Superannuation Scheme743✓✓
Ford Motor Company of New Zealand Limited Pension Fund6238✓✓
FreedomPlan1098✓
Future Lifestyle Plan6166✓
FuturePlan410✓
Glaxo New Zealand Pension Plan5360✓✓
GMI Superannuation Scheme1758
—employer section6✓
—legacy section7✓
Goodman Fielder (NZ) Retirement Plan4760✓✓
Guardian Assurance Superannuation Plan5431✓✓
Heinz-Wattie Pension Plan991✓✓
Holcim (New Zealand) Limited Superannuation Fund2234✓✓
Holden New Zealand Limited Pension Plan1499✓✓
i-Select Superannuation Scheme1953✓
IBM New Zealand Limited Pension Scheme5773✓✓
Imperial New Zealand Superannuation Fund4889✓✓
Inland Revenue Department Superannuation Scheme1027✓✓
Local Government Superannuation Scheme1527✓✓
Maritime Retirement Scheme3390✓
Meat Industry Superannuation Scheme823✓✓
Medical Assurance Society Retirement Savings Plan1086
—workplace savings section8✓
—individual section9✓
Mercer Super Trust1320
—Section A of the DC Division10✓
—Section B of the DC Division11✓
Mobil Employee Retirement and Benefits Plan1825✓✓
National Mutual Goldline Series Superannuation Scheme770✓
National Mutual Individual Lump Sum Superannuation Scheme6974✓
National Mutual Individual Pension Superannuation Scheme6973✓
Nestlé New Zealand Pension Fund6652✓✓
New Zealand Anglican Church Pension Fund2022✓
New Zealand Automobile Association Incorporated Superannuation Scheme923✓✓
New Zealand Fire Service Superannuation Scheme6231✓✓
New Zealand Harbours Superannuation Plan224✓
New Zealand Post Superannuation Scheme6206✓✓
New Zealand Refining Company Pension Fund2301✓✓
New Zealand Steel Pension Fund2310✓✓
Orica New Zealand Limited Retirement Plan5775✓✓
Otis NZ Superannuation Plan9280✓✓
PGG Wrightson Employee Benefits Plan4883✓✓
Police Superannuation Scheme987✓✓
Portfolio Superannuation Fund6899✓
Presbyterian Church of Aotearoa New Zealand Beneficiary Fund2675
—Part C open defined benefit section✓
—Part B closed defined benefit section✓
Reckitt & Coleman New Zealand Pension Fund2776✓✓
Reed Elsevier New Zealand Superannuation Scheme3741✓✓
Renold New Zealand Limited Superannuation Plan7745✓✓
Reserve Bank of New Zealand Staff Superannuation and Provident Fund2817✓✓
RIG Superannuation Fund2917✓✓
Rio Tinto New Zealand Retirement Fund1192✓✓
Sealed Air (New Zealand) Superannuation Fund5336✓✓
Shell New Zealand Pension Plan3037✓✓
SIFCO Distributors Limited Superannuation Trust Fund4398✓✓
Southern Cross Building Society Staff Superannuation Scheme1160✓✓
Suncorp New Zealand Superannuation Scheme1363✓✓
Superannuation Master Trust1365✓
Superbond 2000 Retirement Plan433✓
SuperLife1068
—SuperLife workplace savings section4✓
—SuperLife legacy section12✓
Supernumerary Fund of the Methodist Church of New Zealand1772✓
The Asteron Superannuation Fund9958✓
The Church of Jesus Christ of Latter-Day Saints Deseret Benefit Plan of New Zealand9576✓
The Colonial Motor Company Limited Staff Superannuation Fund7284✓✓
The Retire Fund791
—participating party section✓
—private member section✓
The Salvation Army New Zealand Officers’ Superannuation Scheme2042✓
The Tasman-Kaingaroa Employees Retirement Scheme6681✓✓
Unilever New Zealand Superannuation Scheme1241✓✓
UNISAVER New Zealand981✓✓
Unisys New Zealand Employees Retirement Income Fund3722✓✓
Vero and Asteron New Zealand Staff Pension Scheme3356✓✓
Westpac New Zealand Staff Superannuation Scheme7436✓✓
Westpac Retirement Plan9390✓
Whitcoulls Group Pension Fund2938✓✓
Winstone Pulp International Superannuation Plan461✓
Works Superannuation Scheme486✓✓
Wrightson Retirement Scheme1090✓✓
Notes
1 Section that accepts contributions from participating employers who have signed an admission deed and from their employee members
2 Section that accepts contributions only from individual or joint natural persons who are members on the effective date
3 Section that accepts contributions only from persons who are trustees or managers of a scheme and who are members on the effective date
4 Section that accepts contributions only from participating employers who have signed a participation agreement or deed
5 Section that accepts contributions only from natural persons who are members on the effective date
6 Section that admits as members (both in its conditions of entry of scheme participants and in the way those conditions are applied on entry) only either or both of the following: (i) eligible individuals (within the meaning of section 130 of the Act); and (ii) persons who are the trustees or managers of a retirement scheme
7 Section that accepts contributions only from members of the scheme (other than members of the employer section) on the effective date who are individuals or the trustees or managers of a retirement scheme
8 Section that accepts contributions only from members who join on or after the effective date
9 Section that accepts contributions only from members who join before the effective date
10 Section that accepts contributions from participating employers who have signed a participation deed and from members associated with a participating employer
11 Section that is closed to new members on and from the effective date but in respect of which contributions may be accepted in respect of existing members
12 Section that accepts contributions only from designated employee members, individual members, spouse members, and myFutureFund members

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order comes into force on 3 June 2016. The order replaces the Financial Markets Conduct (Restricted Schemes) Order 2015 (the 2015 Order).

The order designates a number of managed investment schemes to each be a particular type of scheme. The order makes minor amendments to some of the designations in the 2015 Order and adds designations for a number of further schemes.

The designations are made on the basis that the provider of each scheme has requested the designation, and on the basis that each scheme meets the requirements of sections 129 to 131 of the Financial Markets Conduct Act 2013.

This order designates a number of managed investment schemes to be more than 1 type of scheme. The Financial Markets Authority is satisfied that these managed investment schemes meet all of the criteria relevant to each designation.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 2 June 2016.

Reprints notes
1 General

This is a reprint of the Financial Markets Conduct (Restricted Schemes) Order 2016 that incorporates all the amendments to that order as at the date of the last amendment to it.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.

4 Amendments incorporated in this reprint

Financial Markets Conduct (Designation of Restricted Schemes) Order 2016 (LI 2016/199): clause 5